6. The Fed will raise rates once in 2016, bringing its median target rate to 0.625 percent.
We foresee a very cautious bump in rates during 2016. This would represent a welcome development for borrowers, in terms of both minimizing the cost of credit card debt and financing major purchases, such as a home or a car—especially with some short-term interest rates already reflecting an expected Fed rate hike, WalletHub says. 